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  #1 Failed REO  
Old 06-11-2009, 01:20 AM
RealtorKenneth RealtorKenneth is offline
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Default Failed REO

I had an REO listing for IAS back at the beginning of the year and they only gave me 3 months. I had many showings for it but I couldn't get any offers.

When called for feedback every agent said it was because of the water damage in the basement, and some possible foundation issues.

They moved the listing along to another agent, and it is under pending right now as it has been for a few weeks, and they dropped the price several times around 20 thousand less than what I had originally listed it for.

I've sold REO listings before but this was my first listing with this company and I am a little disappointed because if I would have been offered more livable house it would have changed things.

On the expiration letter I got it said that this would not have a negative effect on my account or hurt any future opportunities for me getting listings...

I just hope that is true.
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